Condemning the Federal Bailouts of Private Industry Resolution

by Constitution Party National Committee – June 2009 – Newark, New Jersey

Whereas, “Bailouts” have increased the federal debt that will be handed down to subsequent generations; and Whereas the “Bailouts” violate the Fifth Amendment’s Due Process Clause by allowing the federal government’s interference with a private contract; and Whereas our Founders were emphatic that the public treasury should never become a public trough, and Whereas, the Federal government is not granted the power to invest in and take over private industry; and Whereas, industry “Bailouts” begun by Republican President George W. Bush and escalated by Democrat President Barrack Barack Obama, are unconstitutional and these presidents had no authority to fundamentally alter the relationship between the federal government and private businesses; and therefore be in it Resolved, that the Constitution Party strongly condemns such “Bailouts” of any and all private industry as they are completely unauthorized by, and in fact are, in violation of specific sections of the Constitution of the United States and further because they constitute a cruel and unfair tax on the posterity of our nation.